DOT - Polkadot
The currency code for Polkadot is DOT, and the currency symbol is ●. Below, you'll find Polkadot rates and a currency converter. You can also subscribe to our currency newsletters with daily rates and analysis, read the Xe Currency Blog, or take DOT rates on the go with our Xe Currency Apps and website.
Polkadot Information
Parachains are advanced, next-generation layer-1 blockchains that transcend the limitations of legacy networks. Specialized and interconnected, parachains make up a diverse ecosystem of independent platforms, communities, and economies improving the way we connect online.
Risks in Using Polkadot
Crypto Currencies are associated with a high level of risk, as they are volatile, not time-tested, and currently under no regulation or legislation. There have been incidents of online Crypto wallets being compromised by hackers leading to large scale theft.
Polkadot History
The Genesis block of the Polkadot network was launched on May 26, 2020, as a Proof of Authority (PoA) network, with governance controlled by the single Sudo (super-user) account. During this time, validators started joining the network and signaling their intention to participate in consensus.
The network evolved to become a Proof of Stake (PoS) network on June 18, 2020. With the chain secured by the decentralized community of validators, the Sudo module was removed on July 20, 2020, transitioning the governance of the chain into the hands of the token (DOT) holders. This is the point where Polkadot became decentralized.
Relevant Links
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Polkadot Stats
| Name | Polkadot |
|---|---|
| Minor unit | 1/100 = N/A |
| Minor unit symbol | N/A |